QatarEnergy Awards McDermott FEED Contract for North Field South Offshore Pipeline Project

HOUSTON, August 10, 2022 /PRNewswire/ — McDermott International has been awarded a Front End Engineering Design (FEED) contract by QatarEnergy for the North Field South (NFS) Offshore Pipeline and Power/FO Cable Project. The new contract is in addition to awards received by McDermott this year for the NFS Jackets and Topsides and Pipelines for the North Field Expansion Project (NFXP).

The NFS infrastructure is part of the NFXP development and is designed to provide feed gas to two additional LNG trains and help increase total LNG production in the State of Qatar from the current 77 million tonnes per annum (MTPA) to 126 MTPA.

“McDermott is one of the most experienced engineering and construction companies serving the LNG market and has completed more than 30 pre-FEED and FEED LNG projects over the past ten years,” said Tarek Kawash, McDermott’s Senior Vice President, Offshore Middle East. “We look forward to continuing to work closely with QatarEnergy to help drive this strategic offshore development.”

“McDermott has decades of experience delivering projects in Qatara historically strategic market, and significantly increasing its localization efforts with the Tawteen In-Country Value (ICV) program,” said Neil Gunnion, McDermott Qatar Country Manager and Vice President Operations. “McDermott is uniquely positioned to combine its EPC expertise with FEED and ensure our design is practical, safe and commercially viable.”

The scope of the contract includes the development of FEED studies for pipelines, cables and associated offshore and onshore facilities. The project will be managed from McDermott’s office in Doha with support from Chennai.

About McDermott

McDermott is a leading, fully integrated provider of engineering and construction solutions for the energy industry. Our customers trust our technology-driven approach designed to responsibly harness and transform the world’s energy resources into the products the world needs. From concept to commissioning, McDermott’s expertise and innovative capabilities are advancing the next generation of global energy infrastructure, providing a better, more sustainable future for all. Operating in more than 54 countries, McDermott’s local and globally integrated resources include more than 30,000 employees, a diverse fleet of specialized marine construction vessels, and manufacturing facilities worldwide. To learn more, visit www.mcdermott.com.

Forward-looking statements

McDermott cautions that statements in this communication that are forward-looking and provide information other than historical information involve risks, contingencies and uncertainties that may impact McDermott’s actual results of operations. These forward-looking statements include, among other things, statements about the expected scope and execution of the project discussed in this press release. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot guarantee that these expectations will prove to be correct. These statements are made using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or in the credit or capital markets; our inability to successfully perform overdue contracts; changes in project design or schedules; the availability of qualified personnel; changes in contract terms, scope or timing, contract cancellations, change orders and other modifications and actions of our customers and other business counterparties; changes in industry standards; the actions of lenders and other creditors of McDermott and adverse results in legal proceedings or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may differ materially from those expected. This communication reflects the views of management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

contacts:

Global Media Relations
Reba Reid
Senior Director, Communications and Marketing
+1 281 588 5636
[email protected]

Middle East Offshore Media Relations
Barbara Knight
Senior Director, Communications and Marketing
+971 (0)4 804 3990
[email protected]

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